Ventria Bioscience Case
Ventria Bioscience and the Controversy over Plant-Made Medicines
In this paper I am writing on the Ventria Bioscience and the Controversy over Plant-Made Medicines Case. Ventria Bioscience is a company that is trying to commercialize pharmaceuticals made from genetically modified plants. While Ventria is gaining opposition from regulators, activist, and environmentalist; they could succeed if they use their relevant stakeholders and specific strategies, information, financial incentive, constituency building, to influence regulators.
There are many groups that have a stake in Ventria’s action. There are some stakeholders that hold a lower salience such as, the environmentalist, consumer advocates, and food-safety activist. Which are, Friends of the Earth, and Environmental of California. As far as market stakeholders involved with Ventria, you have the rice industry, including rice farmers and producers. These groups are apart of the market in which Ventria wants to enter into. Rice farmers can be a family owned business, whereas, rice mills tend to be owned by larger organizations such as: Agribusiness giants, ADM, Far West Rice, Pacific International, and Sun West. The public is a market because they are going to be customers for Ventria’s product.
However, there are most prominent stakeholders that each have a specific interest and source of power. Beginning with non-market, Ventria has a lot of regulations to abide by; for example, the FDA, EPA, and USDA regulation. Ventria needs all three of these regulatory approvals if they even want their business to evolve. The FDA is responsible for the safety and effectiveness of food and medicines. The EPA is responsible for the environmental safety of food crops that are genetically engineered. As for the USDA, they have oversight of genetically modified crops that are being tested in fields. Given that Ventria wants to grow their crops in California, they have to be aware of the CRC, California Rice Commission.
In this paper I am writing on the Ventria Bioscience and the Controversy over Plant-Made Medicines Case. Ventria Bioscience is a company that is trying to commercialize pharmaceuticals made from genetically modified plants. While Ventria is gaining opposition from regulators, activist, and environmentalist; they could succeed if they use their relevant stakeholders and specific strategies, information, financial incentive, constituency building, to influence regulators.
There are many groups that have a stake in Ventria’s action. There are some stakeholders that hold a lower salience such as, the environmentalist, consumer advocates, and food-safety activist. Which are, Friends of the Earth, and Environmental of California. As far as market stakeholders involved with Ventria, you have the rice industry, including rice farmers and producers. These groups are apart of the market in which Ventria wants to enter into. Rice farmers can be a family owned business, whereas, rice mills tend to be owned by larger organizations such as: Agribusiness giants, ADM, Far West Rice, Pacific International, and Sun West. The public is a market because they are going to be customers for Ventria’s product.
However, there are most prominent stakeholders that each have a specific interest and source of power. Beginning with non-market, Ventria has a lot of regulations to abide by; for example, the FDA, EPA, and USDA regulation. Ventria needs all three of these regulatory approvals if they even want their business to evolve. The FDA is responsible for the safety and effectiveness of food and medicines. The EPA is responsible for the environmental safety of food crops that are genetically engineered. As for the USDA, they have oversight of genetically modified crops that are being tested in fields. Given that Ventria wants to grow their crops in California, they have to be aware of the CRC, California Rice Commission.